Accounts Receivable and Accounts Payable Confirmations

According to the International Standards on Auditing (ISA) and especially the ISA 505 «External Confirmations» standard, auditors carry out a «circularization» process, more commonly known as «external confirmation procedures».

External confirmation procedures are frequently performed to confirm, or request information regarding account balances and their elements.

Debtors to a company are asked to confirm outstanding amounts (positive circularization) or to reply if the amount stated is incorrect, or in dispute (negative circularization)

External confirmations may also be used to confirm certain terms of agreement, contracts, or transactions between an entity and other parties, or to confirm the absence of certain conditions, such as a «side agreement».

As part of the digitization on the audit profession, and in application the ISA 505 “External Confirmations” standard, auditors can use the secure and cloud-based platform, Circulariz.com and simplify external confirmations for everyone.

Save Time and Improve The Financial Audit Process

Responding to audit confirmation requests from external auditors can be time consuming. Circulariz.com, the secure and cloud-based platform, makes it easy to respond to audit confirmation requests.

Free

It is completely free for responders. Only requesters pay for the service

Quick

Paperless: It only takes a few seconds to respond via a secure web page

Safe

Our secure environment protects your data privacy and confidentiality

Easy

Respond to confirmation requests online simply by signing in

Positive or Negative Confirmation: Simply Respond in One Click

There are two types of external confirmation which can be sent by auditors: Positive Confirmation and Negative Confirmation.

Positive confirmation requires customers or suppliers to respond to the auditor whether the customer’s records correspond to the auditor’s records,or not. A response to a positive confirmation request is usually expected to provide reliable audit evidence.

Negative confirmation requires customers or supliers to respond to the auditor only if they find a discrepancy between their records and the auditor’s records.

Both positive and negative confirmations can be used by financial auditors through Circulariz. Whatever the type of confirmation you have received, you will be able to respond quickly and securely.

You’ve received a confirmation request? Do you need help to respond?

To learn more, you can reach out to us from Mondays to Fridays, 9 AM and 6PM: